Galileo Mining’s Norseman cobalt project in the Goldfields region of Western Australia could be one of highest-grade cobalt plays in Australia after highly positive results from metallurgical test work.
Laboratory test work designed to replicate commercially available concentration techniques has successfully produced a stream of high-grade cobalt concentrates from Norseman.
Sizing and gravity concentration techniques used to date on representative composite samples have been able to produce concentrate assaying up to 2.57% cobalt.
Preliminary results indicate an average concentrate grade of 0.3% cobalt is achievable making Norseman one of the highest-grade cobalt plays in Australia.
Test work samples were sourced from the major geological domains within Galileo’s JORC compliant resources at Norseman.
Focussing on the favourable cobalt mineralogy of the Company’s resources provides a natural comparative advantage with respect to other cobalt development projects within Australia.
Galileo Managing Director Brad Underwood said the Company’s emphasis on cobalt potential has resulted in the delivery of the latest positive results.
We believe that the long-term demand for cobalt, driven in particular by the projected increase in electric vehicle production, provides an opportunity for shareholders to benefit from our cobalt project,” he said.
“Our resources are amenable to the production of cobalt concentrate and this opens up new business opportunities including potential off-take arrangements with existing producers.”
“Our ongoing metallurgical program will look at opportunities to further increase the cobalt concentrate grade as well as leach test work recovery of metals from the concentrate.
Mr Underwood said the company expects to announce additional metallurgical results in the near future as the company builds towards the delivery of its Scoping Study.
Shares in Galileo have gained 1c or 5.6% to 19c in late morning trade.
